By: Jane Hennessy, Head of External Alliances
The Third Party Payment Processors Association (TPPPA) held its second annual member conference in Atlanta last week. Attendance doubled from the prior year, demonstrating the increased interest in issues facing TPPPs and the banks that serve them.
TPPPA Pre-conference Compliance Workshop
G2 was proud to be the sponsor of the pre-conference compliance workshop. The workshop explored industry best practices in third-party payment processing, and also included an exercise for participants to begin building a robust and comprehensive Risk Assessment and Internal Controls Review Schedule.
- Internal Control Review Program
- Compliance Officer Duties
- Know Your Customer and Your Customers’ Customers (KYC and KYCC)
- Ongoing Monitoring and Reporting Suspicious Activity
All of these are key concepts to protecting the financial ecosystem.
G2 KYC Solutions
G2 KYC Solutions address many of these compliance topics with solutions for both business customer onboarding and ongoing monitoring.
- G2 KYC Compass Score: pinpoints customers that may require further investigation
- G2 Business Classification: improves accuracy of NAICS classification and reveals prohibited and restricted customers in a bank or processor’s portfolio
- G2 Reputation Monitoring: uses Complaints Monitoring and Negative News to identify any business customers that warrant further investigation based on a review of complaints, ratings and adverse media from thousands of industry-leading sources
- G2 Business Customer Monitoring: provides ongoing business customer monitoring based on G2’s proprietary risk and compliance database with more than 11 years of data on millions of businesses
All of these solutions help strengthen compliance with BSA/AML requirements and allow banks and processors to take a risk-based approach to managing their portfolios while reducing manual effort. To learn more about how G2 can help you build a stronger compliance program, contact us at firstname.lastname@example.org.
Special Guest Speaker
Join us on July 14 for our complimentary webinar for an in-depth look at the importance of reputation monitoring for a strong KYC program with special guest speaker Dennis Lormel, president of DML Associations. Formerly with the FBI, Dennis Lormel is a recognized subject matter expert in the anti-money laundering, terrorist financing and fraud communities.